Galp Energia SGPS (OTCMKTS:GLPEY) Sees Large Volume Increase – Here’s Why

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw strong trading volume on Thursday . 341,459 shares changed hands during trading, an increase of 264% from the previous session’s volume of 93,703 shares.The stock last traded at $12.49 and had previously closed at $12.45.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLPEY. Morgan Stanley reiterated an “overweight” rating on shares of Galp Energia SGPS in a research note on Friday, September 4th. Zacks Research cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Galp Energia SGPS currently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Down 1.6%

The stock has a market cap of $16.86 billion, a PE ratio of 14.44 and a beta of -0.05. The firm has a fifty day moving average of $11.85 and a 200 day moving average of $11.50. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.54.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.26. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $6.79 billion. Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%. On average, equities research analysts anticipate that Galp Energia SGPS SA will post 1.21 EPS for the current fiscal year.

About Galp Energia SGPS

Galp Energia SGPS, SA is a Portugal-based integrated energy company engaged in the exploration, production, refining, marketing and distribution of energy products. Through its upstream activities, Galp develops oil and natural gas resources, with operations and interests in areas including Brazil, Mozambique and Namibia.

The company also operates in downstream energy markets, supplying and marketing fuels, lubricants and other petroleum products. Its activities include refining, fuel distribution, retail service stations and the provision of energy solutions to business and household customers, primarily across Portugal and Spain.

Galp is expanding beyond traditional hydrocarbons through investments in renewable power generation, solar energy, electric-vehicle charging, low-carbon fuels and other energy-transition technologies.